Governor David Umahi of Ebonyi state, Wednesday presented his proposed intention of reducing the 2020 budget by 26 percent against the proposal earlier approved by the state House of Assembly in December, 2019.The year’s fiscal budget was approved at N178.366 billion but the governor due to the effect of Covid-19 in the state decided to revise it down to N131.847 billion. Umahi disclosed Read More
Two months after he took office, Bayelsa state governor, Senator Douye Diri, Tuesday, presented an appropriation bill of N242.283 billion for the 2020 fiscal year to the state House of Assembly. Presenting his maiden budget estimate christened, “Consolidation for Prosperity 2020,” Senator Diri said the appropriation bill defines the structure for the economic activities to be undertaken in the fiscal Read More
Civil Society Legislative Advocacy Centre (CISLAC), and members of the Tax Justice and Governance Platform in Nigeria has expressed worrisome that Nigeria has again scored below expectation on the Financial Secrecy Index 2020. In the 2020 global Financial Secrecy Index released at 18:00 on Tuesday, Nigeria was ranked 33 out of 133 jurisdictions with a secrecy score of 70. This Read More
The federal government is reportedly incurring more costs to subsidize the importation of refined petroleum products, a situation that could affect federal allocations in the coming months. Between December 2019 and January 6th, 2020, the cost of subsidizing a litre of petrol, which understandably is in high demand by millions of Nigerians, increased from N21 to N38. On the Read More
President Muhammadu Buhari was among millions of Nigerians that sent out New Year messages. As the Commander in Chief, his message was addressed to all Nigerians in a letter. Read the full content of the letter below: A LETTER FROM THE PRESIDENT AT NEW YEAR My Dear Compatriots, NIGERIA’S DECADE Today marks a new decade. It is a time of Read More
The Enugu State House of Assembly Tuesday passed the state’s 2020 Appropriation Bill of N169.6 billion for the year ending December 31, 2020. This followed a report presented by the chairman, House Committee on Finance and Appropriation, Mr Ezenta Ezeani, at the plenary in Enugu. Ezeani said that there was no amendment to both the capital and recurrent expenditure as Read More
For the National Assembly members, this is a week that they cannot forget in a hurry. They deserved a huge pat on the back and they got exactly that from Nigerians including, of course, President Muhammadu Buhari, who did not attempt to downplay the significance of the lawmakers’ effort. Why do the lawmakers deserve pat on the back? They have Read More
Kwara state governor AbdulRahman AbdulRazaq Monday said he would have inherited an empty treasury if the account of the state government had not been frozen on the eve of his inaugurationby the Economic and Financial Crimes Commission (EFCC). This is just as the Ilorin Zonal head of the EFCC, Isyaku Sharu disclosed that the commission had so far recovered a Read More
The Delta state House of Assembly has passed the 2020 apprroprietion with additional N6billion making it the budget size of N395 billion. Recalled that Governor Ifeanyi Okowa on 6th of November 2019 presented a budgeted proposal of N389,190,799,362 billion to the State house of Assembly for 2020 fiscal for approval. The motion for the passage was moved by the majority Read More
The Nasarawa state House of Assembly Wednesday passed a supplementary budget of N4.67billion for the 2019 fiscal year. The Speaker of the house, Alhaji Ibrahim Balarabe-Abdullahi, announced the passage of the budget after a motion passed by Alhaji Tanko Tunga, the Majority Leader. Abdullahi urged the executive to ensure proper use of the fund for the purpose it was meant. Read More
Bauchi state Commissioner of Budget and Economic Planning, Dr Aminu Gamawa, has said the state government will soon conclude its preparations on the 2020 budget. Gamawa was speaking when he featured in a phone-in programme tagged Tafiya Da Gwani presented by Bauchi Radio Corporation (BRC) Tuesday. The commissioner said after the ministry concludes its assignment, it will forward the budget to Read More
The Vice-Chancellor of Bells University of Technology, Ota, Ogun state, Professor Jeremiah Oludele Ojediran has condemned the N48billion allocation to education in the 2020 appropriation bill presented by President Muhammadu Buhari to the National Assembly. The V-C described the allocation to education as not only paltry but also unfortunate, insisting that the budget was a proof that the government was not ready to Read More
#Budget2020 allocations for some MDAs announced by President Muhammadu Buhari Works & Housing – N262bn Transportation – N123bn UBEC – N112bn Defence – N100bn Agriculture – N83 bn Water – N82bn Niger Delta – N81bn Education – N48bn Health – N46bn NEDC – N38bn SIP – N30bn FCT – N28bn
The Presidency has disclosed that President Muhammadu Buhari will present 2020 budget next week. This is after it gave reasons Buhari coukdn’t keep to his administration’s promise to present the 2020 budget to the National Assembly in the third week of September. It also said Buhari, who would visit South Africa this week, would present the budget after the trip. Read More
The recent appointment of Hon Muktar Aliyu Betara as the chairman of the Appropriation Committee of the House of Representatives has clearly demonstrated his humility, diligence, hard work and honesty. His appointment to that position by the Speaker Femi Gbajabiamila is not by happenstance, considering Betara’s background as an articulate accountant and a hardworking and diligent public servant. He earned Read More
Speaker of the House of Representatives Hon Femi Gbajabiamila has told the presidency that the house would be expecting the 2020 budget in September, with a view to having same passed by January 2020. According to the speaker, the house would be using three weeks to work on the 2021-2023 Medium Term Expenditure Frameworks (MTEF), and Fiscal Strategy Paper (FSP), Read More
The Federal Government has released one billion naira to the Nigeria Football Federation (NFF) to cover the country’s participation at the 2019 AFCON in Egypt as well as pay up the outstanding entitlements of both the Super Falcons and the Flying Eagles. This cash came under the intervention fund as the NFF failed to submit the budget for the 2019 Read More
The relatively stable foreign exchange (forex) and seemingly benign inflation rate will come under test as the Federal Government (FG) will begging to implement the 2019 budget and pay the new minimum wage, beginning with arrears of two months. According to Bismarck Rewane, chief executive officer of Financial Derivatives Company (FDC) Limited, “naira pressure will commence as budget releases are Read More
Connected Development (CODE), a non-governmental organisation has organised a one day training workshop for Borno state chapter of champions with the support of Open Society Initiative for West Africa (OSIWA) to strengthen the capacity of the participants on Follow The Money/Tracking Government Spending on projects as provided in the budgets for the grassroots communities. The workshop with the theme, Strengthening Capacity for Follow The Read More
President Muhammadu Buhari Monday signed the 2019 Appropriation Bill into law, and said the ‘padded’ sum into the budget by the National Assembly would make implementation challenging. . Speaking at the signing of the estimates at the Presidential Villa in Abuja, the president said the increase of the appropriation from N8.83 trillion to N8.92 trillion by the National Assembly would Read More
President Muhammadu Buhari has just signed the 2019 appropriation bill into law, signalling the beginning of the implementation of the 2019 fiscal calendar. The president had earlier proposed a budget of N8.83 trillion to the National Assembly on December 18, 2018, but the passage was delayed due to events such as the Christmas and New Year breaks as well as Read More
Senate President Bukola Saraki and Speaker House of Representatives Yakubu Dogara and other senior members of the National Assembly are about now at the presidential villa for the signing of 2019 budget into law by President Muhammadu Buhari. Also expected at the ceremony are the Minister of Finance, Zainab Ahmed, Minister of Information, Lai Mohammed, Governor of the Central Bank Read More
The Nigerian National Petroleum Corporation (NNPC) said it remitted to the federation account the sum of N1.26 trillion as against the N1.22 trillion projected in the 2018 budget. According to the state run oil corporation, it represents a surplus of N41billion. The Group Managing Director of NNPC, Dr. Maikanti Baru represented Managing Director, Mr. Godwin Okonkwo, made the submission during a presentation Read More
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